Quick Take
Inscriptions which is the process of writing data into the blockchain via the Witness portion of a Bitcoin transaction.
The total count of Inscriptions is now approaching 5 million; as you can see, it predominately comes from text-based inscriptions.
Inscriptions have also generated a cumulative fee of 904 Bitcoin.
This benefits miner tremendously, but is this here to stay? If a true recession were to occur, would we still see the demand?
Inscriptions: (Source: Glassnode)
Cumulative fees: (Source: Glassnode)
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